BioXell's first-half net loss widens 4.7%

Italian drug developer BioXell SpA's net loss in the first six months of the year amounted to 6.7 million euros ($9.8 million), widening 4.7% year-on-year. At the same time, the company maintained a robust financial position, with nearly 50.0 million euros in cash and cash equivalents as of June 30.

During the period, BioXell says it validated its clinical development plan for lead compound elocalcitol, while pursuing the development of its other clinical and preclinical compounds. Company chief executive Francesco Sinigaglia said the upcoming results of a Phase IIb study in overactive bladder disorder, expected by early 2009, "will provide a further contribution to the full evaluation of elocalcitol's commercial potential to become the monotherapy of choice in lower urinary tract symptoms."